Arvinas, Inc. (NASDAQ:ARVN - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $7.37, but opened at $7.66. Arvinas shares last traded at $7.70, with a volume of 330,478 shares trading hands.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the company. The Goldman Sachs Group lowered their price target on Arvinas from $12.00 to $8.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Bank of America decreased their price objective on Arvinas from $54.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. Leerink Partnrs lowered Arvinas from a "strong-buy" rating to a "hold" rating in a research note on Sunday, June 1st. Wells Fargo & Company dropped their price objective on shares of Arvinas from $26.00 to $19.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Finally, Piper Sandler reissued an "overweight" rating and issued a $14.00 price target (down from $24.00) on shares of Arvinas in a research note on Friday, May 2nd. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $20.29.
Read Our Latest Stock Analysis on Arvinas
Arvinas Stock Up 2.8%
The firm has a market cap of $553.05 million, a P/E ratio of -2.74 and a beta of 2.19. The company has a fifty day simple moving average of $7.40 and a 200-day simple moving average of $13.25.
Arvinas (NASDAQ:ARVN - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of ($0.93) by $2.07. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same quarter in the prior year, the firm posted ($0.97) EPS. The business's revenue was up 646.2% compared to the same quarter last year. As a group, research analysts forecast that Arvinas, Inc. will post -3.81 EPS for the current year.
Hedge Funds Weigh In On Arvinas
Hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. lifted its position in Arvinas by 1.6% in the fourth quarter. Invesco Ltd. now owns 37,254 shares of the company's stock worth $714,000 after purchasing an additional 581 shares during the period. Rhumbline Advisers raised its holdings in Arvinas by 0.9% in the 4th quarter. Rhumbline Advisers now owns 87,877 shares of the company's stock worth $1,685,000 after acquiring an additional 754 shares during the period. Bank of Montreal Can raised its holdings in Arvinas by 2.7% in the 4th quarter. Bank of Montreal Can now owns 39,407 shares of the company's stock valued at $755,000 after acquiring an additional 1,044 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Arvinas by 3.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,514 shares of the company's stock worth $700,000 after buying an additional 1,353 shares during the period. Finally, GF Fund Management CO. LTD. acquired a new stake in Arvinas during the 4th quarter valued at $28,000. 95.19% of the stock is currently owned by hedge funds and other institutional investors.
Arvinas Company Profile
(
Get Free Report)
Arvinas, Inc, a clinical-stage biotechnology company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. The company engineers proteolysis targeting chimeras (PROTAC) targeted protein degraders that are designed to harness the body's own natural protein disposal system to degrade and remove disease-causing proteins.
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